Litigation » Hard-Partying CEO Pleads Guilty To Wire Fraud

Hard-Partying CEO Pleads Guilty To Wire Fraud

October 16, 2014

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A CEO who solicited funds from friends, then blew hundreds of thousands of dollars on lavish parties to celebrate false claims the company was to be acquired, has pleaded guilty to two counts of wire fraud and four counts of money laundering. Jon Mills, founder and former CEO of Motionloft, spent $765,000 of his investor’s money on private jets and parties in Las Vegas and at the Coachella music festival, claiming the company was set to be bought out. Mills was arrested earlier this year and could serve up to 20 years in prison.

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